INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Arqit Quantum Inc. (ARQQ, ARQQW) on Behalf of Investors
BENSALEM, PA (ClassActionDaily) Law Offices of Howard G. Smith announces an investigation on behalf of Arqit Quantum Inc. (“Arqit” or the “Company”) (NASDAQ: ARQQ, ARQQW) investors concerning the Company’s possible violations of federal securities laws.
On April 18, 2022, The Wall Street Journal published an article titled “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say.” Therein, the Journal reported that individuals familiar with the matter claimed that Arqit’s encryption technology “might never apply beyond niche uses,” and that, at the time of the Company’s initial public offering, Arqit had “little more than an early-stage prototype of its encryption system.”
On this news, Arqit’s share price fell $2.57, or 17.1%, to close at $12.49 per share on April 18, 2022, thereby injuring investors.
If you purchased Arqit securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
London, UK – 18 April 2022 – Arqit Quantum Inc. (“Arqit”), a global leader in quantum encryption technology, notes the article in today’s Wall Street Journal which seems to be based on little more than the unsubstantiated and out of date comments of two long departed and disgruntled former employees. We were disappointed that the WSJ failed to make reference to the numerous positive announcements made by the company in recent months or other data shared with them. For example, the article criticizes a technology category (“QKD”) that Arqit does not even sell, as it in fact notes in its own article. The Wall Street Journal story was comprehensively and categorically rebutted with verified evidence offered. When considering the efficacy and relevance of its products, Arqit is content to let its customers and results do the talking and looks forward to its forthcoming results announcement in May.